Documentary collections

Documentary collections

Trade transactions handled on a draft basis.

Documentary Collections

International transactions in which banks act on behalf of the importer and exporter to collect payment for a good. The exporter presents the appropriate documents to a bank in his/her country, which forwards them to a bank in the importer's country. This bank presents the documents to the importer and accepts payment, which it then forwards back to the first bank. The banks have no responsibility in a documentary collection except to fulfill instructions of the importer and exporter; that is, they make no guarantees of payment. See also: Documents against payment, Documents against acceptance.
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The Committee for Latin America and the Caribbean (MOWLAC) of the Memory of the World Program (MOW) of UNESCO, based on its Guidelines, aims to stimulate special protection for the documentary collections of the countries of Latin America and the Caribbean.
com has selected its @GlobalTrade Multi-bank Trade Finance Platform for managing bank guarantees, documentary credits and documentary collections, the company said.
In Transaction Banking, UniCredit will provide documentary credits (import and export letter of credit), documentary collections, guarantees, cash management services and the availability of an advanced eBanking platform.
At the same time, the budget allocated to public libraries, which does not exceed 3 billion dinars, has not increased, despite the efforts made to develop the available documentary collections and the acquisition of varied books according to the means and markets available, Hamdoun added.
Specific outsourcing services being provided to KeyBank include a Web-based letter of credit information delivery and document management system; a Web-based trade letter of credit portal; and a Web-based system for documentary collections, document review, funds transfer and trade reporting.
FirstMerit's international banking division offers US companies a comprehensive range of products and services to help them enter and compete in global markets, including letters of credit, documentary collections, foreign exchange advisory and payments services and US government-guaranteed working capital loan programs.
For documentary collections, the seller instructs the bank to issue a collection order, the seller presents the documents and payment is made based on previously agreed terms.
Also highly recommended for art documentary collections is Altina ($27.
Examples of trade services which can serve to minimise risk associated are: Documentary Collections - sim-|plifies payments between partners.
The sixth theme focuses on documents, archives and archaeology through archaeological and architectural evidence of the Omani presence in East Africa, as well as Omani manuscripts and historical documents in various centres in East Africa (and ways to save them) , in addition to the study of the archives and documentary collections related to Omani archive (Zanzibar-US Archive, Britain-archive).
The company's patented web-based Global Trade Management platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions.
Documentary collections involve using Bills of Exchange that require the importer to pay the face value either on sight (document against payment) or on a specified date (document against acceptance).